AppFolio, Inc. (NASDAQ:APPF) Receives $277.75 Average Target Price from Analysts

AppFolio, Inc. (NASDAQ:APPF) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $277.75.

Several equities analysts have weighed in on APPF shares. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. DA Davidson boosted their price objective on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Piper Sandler boosted their price objective on AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Piper Sandler Companies reissued an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a research report on Friday, July 26th. Finally, KeyCorp boosted their price objective on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th.

Insider Buying and Selling at AppFolio

In other news, major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $232.52, for a total transaction of $46,504.00. Following the completion of the sale, the insider now owns 27,568 shares in the company, valued at $6,410,111.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $232.52, for a total transaction of $46,504.00. Following the completion of the sale, the insider now owns 27,568 shares in the company, valued at $6,410,111.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Maurice J. Duca sold 4,203 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $230.34, for a total value of $968,119.02. Following the sale, the insider now owns 45,447 shares of the company’s stock, valued at approximately $10,468,261.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,854 shares of company stock worth $14,839,064. 9.15% of the stock is owned by insiders.

Institutional Investors Weigh In On AppFolio

Several large investors have recently modified their holdings of the stock. American International Group Inc. grew its holdings in AppFolio by 280.7% during the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock worth $8,973,000 after acquiring an additional 26,815 shares during the period. Texas Permanent School Fund Corp acquired a new position in AppFolio during the first quarter worth $4,415,000. Oberndorf William E acquired a new position in AppFolio during the fourth quarter worth $3,020,000. Nebula Research & Development LLC grew its holdings in AppFolio by 554.5% during the fourth quarter. Nebula Research & Development LLC now owns 9,039 shares of the software maker’s stock worth $1,566,000 after acquiring an additional 7,658 shares during the period. Finally, Ameritas Investment Partners Inc. grew its holdings in AppFolio by 223.5% during the first quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock worth $1,588,000 after acquiring an additional 4,445 shares during the period. Hedge funds and other institutional investors own 62.34% of the company’s stock.

AppFolio Price Performance

NASDAQ APPF opened at $225.84 on Friday. The company has a market cap of $8.19 billion, a P/E ratio of 109.10 and a beta of 0.81. The stock has a 50-day moving average of $232.94 and a two-hundred day moving average of $233.45. AppFolio has a 1-year low of $164.29 and a 1-year high of $274.56.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.16. The company had revenue of $197.38 million during the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. AppFolio’s revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.53) EPS. On average, analysts anticipate that AppFolio will post 3.04 EPS for the current fiscal year.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.